Hype Builds Momentum as HYPE Price Tests Critical Support Zone Near $53

Hyperliquid's (HYPE) price has been consolidating around the $53 level, marking a critical support zone that could determine its next trend.

According to Ali Charts, the HYPE price is testing this lower boundary of its established trading channel, and if buyers can defend it, it would preserve the broader bullish structure.

The analyst suggests that if support holds, the HYPE price might rally back to the midpoint of the channel near $64, where resistance could form for the first time.

Once this barrier is broken through, the bullish momentum will be further reinforced, and HYPE will aim to break through towards the upper channel line near $75.